Recent Research Analysts’ Ratings Updates for CarGurus (CARG)

CarGurus (NASDAQ: CARG) has recently received a number of price target changes and ratings updates:

• 11/11/2024 – CarGurus was upgraded by analysts at Citigroup Inc. from a “hold” rating to a “strong-buy” rating.
• 11/11/2024 – CarGurus had its price target raised by analysts at Royal Bank of Canada from $30.00 to $42.00. They now have an “outperform” rating on the stock.
• 11/11/2024 – CarGurus had its price target raised by analysts at JMP Securities from $32.00 to $41.00. They now have a “market outperform” rating on the stock.
• 11/11/2024 – CarGurus had its price target raised by analysts at B. Riley from $30.00 to $40.00. They now have a “buy” rating on the stock.
• 11/8/2024 – CarGurus had its price target raised by analysts at JPMorgan Chase & Co. from $36.00 to $40.00. They now have an “overweight” rating on the stock.
• 11/8/2024 – CarGurus had its price target raised by analysts at Oppenheimer Holdings Inc. from $32.00 to $44.00. They now have an “outperform” rating on the stock.
• 11/8/2024 – CarGurus had its price target raised by analysts at DA Davidson from $26.50 to $38.50. They now have a “neutral” rating on the stock.
• 11/8/2024 – CarGurus had its price target raised by analysts at Needham & Company LLC from $27.00 to $39.00. They now have a “buy” rating on the stock.
• 10/22/2024 – CarGurus had its price target raised by analysts at BTIG Research from $30.00 to $35.00. They now have a “buy” rating on the stock.
• 10/22/2024 – CarGurus had its price target raised by analysts at Jefferies Financial Group Inc. from $35.00 to $38.00. They now have a “buy” rating on the stock.

CarGurus Price Performance

Shares of CARG opened at $35.73 on Friday. CarGurus, Inc. has a 1 year low of $20.63 and a 1 year high of $37.94. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -77.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.55. The business has a 50-day moving average of $31.59 and a 200-day moving average of $27.65.

Insider Transactions at CarGurus

In related news, CEO Jason Trevisan sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the sale, the chief executive officer now owns 779,606 shares of the company’s stock, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the transaction, the chief operating officer now directly owns 449,821 shares in the company, valued at approximately $14,223,340.02. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,065 shares of company stock worth $2,356,336 over the last ninety days. 17.20% of the stock is owned by insiders.

Institutional Trading of CarGurus

Hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new stake in CarGurus during the third quarter worth $28,000. Signaturefd LLC raised its stake in shares of CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after buying an additional 430 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus in the third quarter valued at $30,000. CWM LLC raised its stake in shares of CarGurus by 54.1% in the second quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after buying an additional 485 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after buying an additional 479 shares during the period. 86.90% of the stock is currently owned by institutional investors.

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.